Real Estate

A recently constructed 23-floor rental apartment building, located in downtown Brooklyn at 7 Dekalb Avenue as part of City Point, a $1 billion mega development, has been acquired by the Brodsky Organization.

According to Crain’s, “The family-owned real estate investment firm purchased the building in a deal that valued it at around $100 million, a source said. The tower was developed by a partnership between Acadia Realty Trust, Washington Square Partners and BFC Partners and includes 80% affordable units. In the deal Acadia and Washington Square Partners sold their majority stake to Brodsky. BFC Partners, which Acadia and Washington Square Partners had tapped to lead the construction, will retain its minority share.

Empty stores plague the streets of the Upper East Side like an epidemic. Known affectionately as the ‘Gold Coast’, this area was home to trendy store front like American Apparel, Reebok, BCBG MAXAZRIA and oldies like Filenes Basement, all of whom have since shut their UES stores. As reported by the Real Deal, in July there were 82 vacant storefronts along Madison, Lexington, Third and Second avenues between 57th and 96th streets. “That is a lot, and there’s probably 20 percent more that’s on

Howard Lutnick, the CEO of financial services firm Cantor Fitzgerald, has purchased a triplex penthouse at the Pierre Hotel for only $44 million. The price represents a significant, $81 million discount since the penthouse was formerly one of New York City’s most expensive listings at $125 million, according to a Page Six report last week.

Out of all the finance firms in New York, Cantor Fitzgerald suffered the most from the terror attacks of September 11, 2001, losing 658 of its 960

Hotel developer Sam Domb has recently placed his gorgeous Upper West Side townhouse on the market with an asking price of $14.25 million.

Empire Hotel Group, which was founded by Domb and now is run by his children, manages many boutique hotels including the Belvedere and the Pearl.

In 2002, using an LLC that is registered in his name, Domb purchased the home located at 318 West 81st Street in Manhattan’s Upper West Side. He had previously run the property as a rental building, but it has

The mass closure of Manhattan restaurants and stores has prompted protests from business owners over a commercial rent tax on business tenants with a rent of over $250,000 a year. In a report this month, the NY Times noted that Manhattan has lost many iconic restaurants, including Greenwich Village café French Roast, Republic, and Blue Water Grill. The restaurants, many of which were neighborhood fixtures, have been forced to close down or relocate due to skyrocketing rent. A 2016 Food Republic